Hudson's Bay cuts 1,000 jobs

newlife

Canada's largest department store chain is slashing 1,000 jobs across Canada, or 5 per cent of its full-time workforce, citing the need to cut costs.
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8 r3 H$ ]; h& ~0 {1 s* Y, R% lHudson's Bay Co. said today that the job losses, which affect mainly head office staff in accounting, information technology and logistics, would help it save $150 million a year.
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# [9 D/ R1 A# F$ @3 \, fThe job cuts, effective today, are the result of a strategic decision by Hudson's Bay's new U.S. owners to combine more of its Canadian and U.S. operations to save money.

; B! h/ v- |9 f( G5 y7 m  SBut there could be more cost-cutting if business conditions worsen, the retailer warned.

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